IREN on Nasdaq

IREN

Logo: https://iren.com/icons/logo.svg?dpl=11986, Non-free logo, via Wikipedia5

Australian data centre company

IREN Ltd (formerly Iris Energy Ltd), headquartered in Sydney, New South Wales, Australia, provides cloud computing infrastructure and services for artificial intelligence (AI). The company develops, owns and operates data centres and provides GPU computing, software and managed services for training and running AI models.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 19, 2026.

Overview

$707.0MRevenue, fiscal 20266
-$702.6MNet income, fiscal 20266
2018Founded1

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  • TickerIREN on Nasdaq1
  • IndustryFinance Services1
  • HeadquartersSydney1
  • Websiteiren.com
  • Incorporated inAustralia7
  • Business addressLevel 5, 55 Market Street, Sydney, 20007
  • Filer categoryLarge accelerated filer7
  • Legal formOther4
  • LEI254900FZF02RB3NNGB714
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressLevel 5, 2000 Sydney, Australia4
  • Registered withThe Australian Securities and Investment Commission, 629 842 7994

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IREN Ltd (formerly Iris Energy Ltd), headquartered in Sydney, New South Wales, Australia, provides cloud computing infrastructure and services for artificial intelligence (AI). The company develops, owns and operates data centres and provides GPU computing, software and managed services for training and running AI models. As of August 2026, IREN reported a global data centre development pipeline exceeding 5 GW, with projects across North America, Europe and Australia. The company locates its facilities in regions with substantial renewable electricity generation and purchases renewable energy certificates to match its electricity consumption. IREN also operates Bitcoin mining facilities, which it is progressively converting to support its expanding AI cloud business.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-148.0%Operating margin6
-99.4%Net margin6
41.1%Revenue growth, 20266
-16.8%Return on equity6
1.77×Debt to equity6
-$897.6MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Bitcoin Mining brought in 82% of the revenue IREN broke down this way in fiscal 2026.

  1. Bitcoin Mining$578.2M682%up 19% from 2025
  2. AI Cloud Services$128.8M618%up 686% from 2025
Products and services by year
Products and services202420252026
Bitcoin Mining$184.1M$484.6M$578.2M
AI Cloud Services$3.1M$16.4M$128.8M

Business segments

Bitcoin Mining brought in 82% of the revenue IREN broke down this way in fiscal 2026.

  1. Bitcoin Mining$578.2M682%up 19% from 2025
  2. AI Cloud Services$128.8M618%up 686% from 2025
Business segments by year
Business segments202420252026
Bitcoin Mining$184.1M$484.6M$578.2M
AI Cloud Services$3.1M$16.4M$128.8M

Regions

Australia brought in 82% of the revenue IREN broke down this way in fiscal 2026.

  1. Australia$578.2M682%up 19% from 2025
  2. CA [member]$128.8M618%up 686% from 2025
Regions by year
Regions202420252026
Australia$184.1M$484.6M$578.2M
CA [member]$3.1M$16.4M$128.8M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue31¢$219.7M
  • Selling, general and admin64¢$449.1M
  • Other costs5¢$32.1M
  • Income tax1¢$6.1M

Out of $707.0M in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2026

  • Capital spending100¢$3.0B

Out of $2.1B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6

Financial statements

Revenue910116$707.0M in 2026+32421% since 2020
0$200.0M$400.0M$600.0M$800.0M2020: $2.2M$2.2M20202021: $7.9M$7.9M2021+263%2022: $59.0M$59.0M2022+647%2023: $75.5M$75.5M2023+28%2024: $187.2M$187.2M2024+148%2025: $501.0M$501.0M2025+168%2026: $707.0M$707.0M2026+41%
Operating income91012116-$1.0B in 2026+62353% since 2020
-$1.5B-$1.0B-$500.0M0$500.0M2020: -$1.7M-$1.7M20202021: -$524.0K-$524.0K2021−69%2022: $307.0K$307.0K20222023: -$157.2M-$157.2M20232024: -$27.2M-$27.2M2024−83%2025: $17.3M$17.3M20252026: -$1.0B-$1.0B2026
Net income91012116-$702.6M in 2026+32702% since 2020
-$800.0M-$600.0M-$400.0M-$200.0M0$200.0M2020: -$2.1M-$2.1M20202021: -$60.4M-$60.4M2021+2719%2022: -$419.8M-$419.8M2022+595%2023: -$171.8M-$171.8M2023−59%2024: -$28.9M-$28.9M2024−83%2025: $86.9M$86.9M20252026: -$702.6M-$702.6M2026

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-06-302025-06-302024-06-30
Total revenue$707.0M$501.0M$187.2M
Total segment and consolidated cost of revenue-$219.7M-$159.0M-$87.1M
Selling, general and administrative expenses-$449.1M-$136.5M-$70.4M
Depreciation and amortization-$417.7M-$181.1M-$50.5M
Impairment of assets-$638.8M-$7.2M$0
Gain (loss) on disposal of property, plant and equipment-$24.9M$4.0M$43.0K
Other operating expenses-$15.2M-$13.3M-$8.1M
Other operating income$11.7M$9.4M$1.6M
Total operating (expenses) income-$1.5B-$324.7M-$127.4M
Operating (loss) income-$1.0B$17.3M-$27.2M
Finance expense-$59.3M-$11.0M-$98.0K
Interest income$80.6M$7.5M$5.8M
Increase (decrease) in fair value of assets held for sale-$110.6M-$2.2M$0
Realized gain (loss) on financial instruments-$9.3M-$4.2M$4.1M
Unrealized gain (loss) on financial instruments$558.5M$77.5M-$3.4M
Gain on partial extinguishment of financial liabilities$0$9.1M$0
Debt conversion inducement expense-$111.8M$0$0
Foreign exchange gain (loss)-$10.3M-$1.3M-$4.7M
Other non-operating income$72.0K$817.0K$108.0K
Total other (expense) income$338.0M$76.2M$1.8M
Income (loss) before taxes-$708.7M$93.5M-$25.5M
Income tax (expense) benefit$6.1M-$6.6M-$3.5M
Net income (loss)-$702.6M$86.9M-$28.9M
Basic net income (loss) per share of Ordinary shares ( in USD per share)-$2.22$0.41-$0.29
Basic weighted-average shares used in computing net income (loss) per share of Ordinary shares (in shares)316.1M shares214.6M shares99.6M shares
Diluted net income (loss) per share of Ordinary shares (in USD per share)-$2.22$0.39-$0.29
Diluted weighted-average shares used in computing net income (loss) per share of Ordinary shares (in shares)316.1M shares223.2M shares99.6M shares
Gain (loss) on cash flow hedges, net of tax$3.1M$0
Change in foreign currency translation adjustments, net of tax-$14.5M$4.9M-$339.0K
Total other comprehensive income (loss), net of tax-$11.4M$4.9M-$339.0K
Total comprehensive income (loss)-$714.0M$91.9M-$29.3M

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The story

The company was founded in Sydney on 6 November 2018 by Daniel and William Roberts as Iris Energy Limited. The company originated from the brothers' interest in Bitcoin and the idea of making energy-intensive Bitcoin mining more sustainable. The company then acquired a data centre complex in Canal Flats, British Columbia, Canada, which was connected to a former pulp mill.

In March 2021, the company raised A$40 million.

In November 2021, the company became a public company via an initial public offering on the Nasdaq, raising approximately US$232 million.

In November 2024, the company changed its name from Iris Energy Ltd to IREN Ltd.

In November 2025, the company received a US$9.7 billion contract from Microsoft to provide computing power.

In March 2026, IREN ordered more than 50,000 Nvidia GPUs, increasing its total capacity to 150,000 GPUs.

In May 2026, the company entered into an agreement with Nvidia under which IREN will provide Nvidia with access to managed GPU cloud services for its internal AI and research workloads via its data centre in Childress, Texas, drawing on 60 MW of existing capacity. Nvidia received a five-year right to purchase up to 30 million shares of IREN at $70 per share.

In August 2026, the company acquired Mirantis for 12.6 million shares of IREN and about $40 million in cash.

From Wikipedia’s article on IREN, shared under CC BY-SA 4.0.8

Leadership

Who has led IREN, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Daniel John Roberts2025–now
  2. William Gregory Roberts2025–now

Chief financial officer

  1. Belinda Nucifora2025
  2. Anthony J. Lewis2025–now
20202025
Board members and other officers (6)

Former names

  • Iris Energy LtdSep 23, 2021 to Nov 29, 20247
  • Iris Energy Pty LtdAug 26, 2021 to Oct 6, 20217

Timeline

  1. Jul 3, 2025New chief executive Daniel John Roberts becomes CEO15
  2. Jul 3, 2025New chief executive William Gregory Roberts becomes CEO16
  3. Nov 17, 2021Went public Listed on NASDAQ1
  4. 2018Founded Founded1

Filings

319 filings to the SEC since October 2021: 6 annual reports, 3 quarterly reports, 31 major events, 26 insider forms, 24 large holders, 1 private raises, 228 other. The latest 20:

  1. Oct 13, 2026ARS EDGAR
  2. Oct 13, 2026DEFA14A EDGAR
  3. Oct 13, 2026DEF 14A EDGAR
  4. Sep 30, 2026SCHEDULE 13G EDGAR
  5. Aug 27, 202610-K EDGAR
  6. Aug 27, 20268-K EDGAR
  7. Aug 18, 2026D EDGAR
  8. Aug 13, 20268-K EDGAR
  9. Aug 12, 2026SCHEDULE 13G EDGAR
  10. Aug 4, 2026424B7 EDGAR
  11. Aug 4, 20268-K EDGAR
  12. Aug 3, 2026SCHEDULE 13G EDGAR
  13. Jul 20, 20268-K EDGAR
  14. Jul 9, 2026DEFA14A EDGAR
  15. Jul 1, 20268-K EDGAR
  16. Jul 1, 2026S-8 EDGAR
  17. Jul 1, 20264 EDGAR
  18. Jul 1, 20264 EDGAR
  19. Jul 1, 20264 EDGAR
  20. Jul 1, 20264 EDGAR

The 319 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 0 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 16, 2025Guzowski ChristopherDirectorSale11,958$36.32$434.3KForm 4
Sep 11, 2025Roberts Daniel JohnCo-Chief Executive OfficerSale1,000,000$33.13$33.1MForm 4
Sep 11, 2025Roberts William GregoryCo-Chief Executive OfficerSale1,000,000$33.13$33.1MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Aug 3, 2026Raised $464.9 million in a private offering of equity Form D: 183 investors so far Form D

Members of Congress who traded it

6 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jan 20, 2026Cleo FieldsDemocratic, HouseBuy$50,001 - $100,000−57.9%Report
Dec 26, 2025Cleo FieldsDemocratic, HouseSale$50,001 - $100,000+36.4%Report
Dec 9, 2025Cleo FieldsDemocratic, HouseBuy$1,001 - $15,000−48.1%Report
Oct 10, 2025Cleo FieldsDemocratic, HouseBuy$1,001 - $15,000−67.3%Report
Oct 10, 2025Cleo FieldsDemocratic, HouseBuy$1,001 - $15,000−67.3%Report
Jul 10, 2025Cleo FieldsDemocratic, HouseBuy$15,001 - $50,000+55.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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